UPI + UTI = " Less Cash " + " Less Evasion " + " Less Black "

 A Rose by Any Other Name  ?

 

 

 

Context :

 

Pan-India BEST card to roll out on Monday   /  TIO    /  23 April 2022

 

 

Extract :

 

Ø  The card will be valid for ANY TRAVEL or PURCHASES , pan –India and not just in the city’s red uses

Ø  One can also purchase GROCERIES, buy from a RETAIL SHOWROOM , use it as a DEBIT CARD , across the country

Ø  The card will have RuPay, which is valid at most NCMC-compliant establishments across the country

Ø  One can top it up ONLINE or with our Bus Conductor and tis will be part of One Card One Nation

Ø  The bus undertaking has already made its system NCMC-compliant in March and this means that anybody having a Common Mobility Card issued from ANY bank across the country can use it in BEST buses

Ø  After purchasing the NCMC card from BEST , commuters will soon be able to purchase Bus Passes, with 72  different options, through the same card

Ø  It will have the “ Tap In “ and “ Tap Out “ facility in the 100 % digital buses which were introduced by environment Minister, Aditya Thackeray, early this week

 

 

MY  TAKE  :

 

               Digital Bus of Mumbai …………………………[ 19 April 2022 ]

 

Ø  Public transport as a solution ? ……………[ 15 Feb 2016 ]

 

Ø  No long queues with Chalo ? …………………[ 21 Dec 2021 ]

 

Ø   POLLUTION SOLUTION , aka " PollSolv " [ 30 Dec 2015 ]

 

Ø  When BHIM is here, can ARJUN be far away ? /  30 Dec 2016

 

 

 

Ø  BHIM : the Unstoppable  /  14  April  2017 

 

 

      Extract :

 

 

      Dec 2017 :  BHIM V 6.0

 

     

      Feature :

 

      To subsume in itself , all Automatic Payment Apps

 

 

      Read Email :

 

    A  Matter of  Time  ( 03 Jan 2017 )

 

 

 

 

 

      April 2018 :    BHIM V 7.0

 

    

       Feature :

 

       Integrating all Private Mobile Wallets into BHIM to create UTI ( Unified

 

       Transaction Interface ) , leading to ,

 

 

       UPI + UTI = " Less Cash " + " Less Evasion " + " Less Black "

 

 

        Read Email :

 

      From  UPI to  UTI  ( 07 Dec 2016 )

 

Extract :

 

Ø  In our goal to make India , a LESS CASH economy , UPI / AEPS ( Aadhar Enabled Payment System ), was an important FIRST step

 

 

Ø  But UPI / AEPS , just does NOT cover those sale / purchase transactions which take place using Credit / Debit cards and private brand Mobile Wallets !

 

 

Ø  To ensure that these transactions too get into the database of the Income Tax department , I suggest following :

 

 

           STEP  #  2

 

Ø  All other PRIVATE brand Mobile Wallets ( Paytm / MobiQuick / ItzCash / FreeCharge etc ), must be integrated with UPI, so that the sale / purchase TRANSACTION DATA generated through use of such private mobile wallets too gets integrated into the COMMON database of the Income Tax department

 

 

            STEP  #  3

 

Ø  All Card-Swipe / PoS machines must be UPI / AEPS compliant, so that all sale / purchase TRANSACTION DATA generated through use of all CREDIT / DEBIT cards, too gets integrated into that COMMON database of IT

 

 

            STEP  #  4

 

Ø  All sale / purchase transactions by all other Electronic Fund Transfer Network ( EFTN ), too must be also transmitted / deposited , into this COMMON DATABASE of TRANSACTIONS

 

 

           IN  NUT-SHELL  :

 

Ø  All sale / purchase transactions of any kind ( goods or services ) , MUST all get into a COMMON / CENTRAL database , through introduction of a UTI ( Unified Transaction Interface )

 

 

            UPI + UTI = " Less Cash " + " Less Evasion " + " Less Black "

 

 

             I request Shri Arun Jaitley-ji to consider my suggestion

 

====================================================

With regards,

Hemen Parekh  /  hcp@RecruitGuru.com / 23 April 2022